KARACHI: Rice exports from India, world’s second largest producer may go up by 32 percent to five million tonnes this year, according to International Grains Council (IGC).
Shipments from Pakistan too are expected to see a jump of 32 percent to 3.7 metric tonnes from 2.8 metric tonnes, IGC said in latest report.
India’s rice exports are projected to increase to five metric tonnes this year from 3.8 metric tonnes in 2011, said IGC, which forecast rice exports for five major exporters.
Forecast for India is based on assumption that government will continue non-basmati rice exports that was allowed in September 2011 and in anticipation of higher production.
India has kept target of record 102 metric tonnes of rice production in 2011-12 crop year (July-June). Basmati rice shipments are allowed at a minimum export price (MEP) of $900 per tonne. Pakistan does not follow any MEP regime.
According to IGC report, barring India and Pakistan, rice exports from Thailand, Vietnam and United States are expected to be lower in current calendar year.
While shipments from Thailand may drop to 7.2 metric tonnes in 2012 from 10.5 metric tonnes last year, rice exports from Vietnam are likely to decline to 6.5 metric tonnes from 7.1 metric tonnes in concerned period.
Similarly, shipments from the US are expected fall to 3.1 metric tonnes in 2012 from 3.3 metric tonnes last year.
IGC noted total global shipments are seen to be down at 31.5 metric tonnes this year against 34.1 metric tonnes last year, due to significantly reduced imports to markets in Far East Asia.
The world’s rice production is projected to go up marginally to 459 metric tonnes in 2011-12 crop year (July-June) because of increases in Asia, notably in China and India, it said. ppi
Source : dailytimes.com.pk